What is a Retainer invoice?

A retainer invoice is a billing method where a customer pays a deposit upfront, which is then credited towards the total cost of the services or products provided. This deposit acts as a form of security for the service provider, ensuring that the customer is committed to the project. The retainer amount is typically used to cover any equipment or materials needed for the job, similar to a down payment or a deposit. By paying a retainer invoice, customers can reserve the services they need while also providing financial assurance for the service provider.